A Special Power; Manner of Exercise; Survival. The power of attorney hereby granted by each Limited Partner to the General Partner: (a) is a special power of attorney coupled with an interest, is irrevocable and shall survive the death, incapacity, insolvency, dissolution or termination of the Limited Partner; (b) may be exercised by the General Partner either by signing separately as attorney-in-fact for each Limited Partner, or, after listing all of the Limited Partners executing any instrument, by a single signature of the General Partner acting as attorney-in-fact for all of them; and (c) shall survive the delivery of an assignment by a Limited Partner of the whole or any portion of his Partnership Interest(s) (except that, where the assignee thereof has been approved by the General Partner for admission to the Partnership as a Substituted Limited Partner, this power of attorney given by the assignor shall survive the delivery of such assignment for the sole purpose of enabling the General Partner to execute, acknowledge, swear to and file any instrument necessary to effect such substitution).
Appears in 12 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement (UHS of Timberlawn, Inc.), Limited Partnership Agreement (UHS of Timberlawn, Inc.)
